The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-16
HOW TO GET RICH.
General Butler Gives Some Pratfcal Hints to
Young Men on the Art of Acquiring Wealth.

HOW TO GET RICH.
Young Men on tho Art of Acquiring Wealth.
Boston Herald.
/ have received your note asking me to write
some practical hints FOR young men on the ac-
quirement of wealth, which may be published.
A difficult task is set NE. as the circumstances
under which young commence life so
widely varied. But / think that more young
men fail in the investment of what they earn or
receive than in any other way to acquire prop
erty. The temptations to speculation SO
great, and the desire to become suddenly rich so
strong, that believe eight of ten, if not more,
of young men are wrecked at the very begin
ming.
If young is earning something more
than the expenses of his living, and has no OBJ
ject in view, he is likely either increase those
expenses carelessly, or to loan his money to his
friends. and in so doing in the majority of cases
he will lose both friends and money, that the
best thing that he can do is TO have an object to
gather up his money, and to have a cali for It
which shall be profitable one. He makes no
investment because he says, 81 have got
little money that it won't come to anything;
will wait until get more;" and in waiting. gem
orally, what he has goes.
When young man has a very little money
let him buy some property, preferably piece,
however small, according to his means. of i'm
proved real estate that is paying rent. He had
better buy it when sold at auction, under ju-
dlcial sale, paying in cash what he can giving
his notes for the balance in small coming
due at frequently recurring intervals secured
by mortgage on the property, and then use all
his extra income in paying up those notes. 1t is
always safe to discount your own note. and if
the notes come little too fast. he
gets anything paid his friends will aid him
when he is putting his money where it
cannot be lost, and where the property
is taking of the interest and in a very short
time he will find that he has got very consid-
cradle investment. He will become interested
in it. save his money to meet his notes. and he
will directly come into a considerable possession
of property, and hardly know how it came to
him. That is. he will have had motive for
saving. and will get the result of that saving.
and will not be tempted to enter into specula-
tons. Nothing is so safe for Investment as
improved REALIZES Nothing is likely to grow
in value faster In the last fifty years, 80 per
cent. of all the merchants and traders
years. 90 .0,I per cent of all the
gone ort of business, so that their
stock has been wiped out In the last fifty years
all the improved real estate, on the average, has
paid it's interest and taxes and quadrupled in
value. If young mans father give him
anything to start him IN the world he had better
invest it in that way and let it accumulate, and
earn his living. and he will be richer than if he
had gone in business. Jay Gould is said to
have started from mouse-trap seller to become
a millionaire. Assuming that to be true he ia
only one of 60. 900 geo of people, and if any
young man thinks that he is going to initiate
Jay Gould. there 60 600, 900 of chances to one
that he won Z succeed.
The rule would lay down for young man
is never do a moan thing for money. Be pIu-
dent and saving of your money. Be careful to
have no interest account running against you
count running in your favor. Work diligently
and you are sure of a competency in your old
age, and, as early as possible, it you find a
saving, prudent girl who has been brought up
by mother who knows how to take care of a
house and make wife of her, she will aid and
claim no originality in this advice and will
relate you an incident in my own experience to
it, In my earliest practice in my pro-
fession was quite successful in earning money,
and had a small balance in the Lowell Bank,
at the head of which was Mr.. James G. Carney.
The bank was directly across the hall from my
Office. l stepped into the bank to deposit a lit
to me, why don't You invest your money!?
'Invest," said I; II have nothing to invest"
sum of money. and / see that your young
friends come with your checks occasionally, evil
IDENTIFY borrowing it. Now. you had better in
vest it." Glow can / invest it2r Invest it in
real estate" $50 to the first auction and buy
the property. You cannot be much cheated in
that because you will have to give very little
for it. Give your notes for it. save your money,
collect your fees, pay your notes as they become
due See that the property is improved prop
erty SO that the rent will keep down
your interest account. and when you get
any other money invest it in the
way and IL your notes press upon you little
faster than you can pay them, why, will,
when we find that is what you are doing with
your money, discount your note and give you a
little more time so that you can pay it up This
will necessitate the prompt collection of your
bills for know that you would rather work and |
earn hundred dollars than dun a man for it,
unless you have pressing need for it. You have
not even asked for little bill that we
owe you in the bank, which shows
me that you do not promptly collect
your dues / followed the advice and bought
a number of pieces of property in that manner,
and never did exactly know how they were
paid for, but they were, and in a few years 1
owned some twenty different pieces of property
in Lowell that came to me in that way. /
only say that wish had been wise enough to
have continued this course through life
I do not think need to extend these sugges-
tions any further, because if young man won't
mind these he wont any Others and l can not
suggest any better ones.